Buyers Remorse on BLRO purchase from dealer

[1kw]

Yesterday a friend was able to get a Rolex dealer he knows to sell me a brand new BLRO however I had to pay him $16,800 (trade two tone GMT $10,000 plus the rest in check). The problem is How much above retail I paid and the wife is not happy. The dealer put my name on the warranty card but he did not give me a receipt of sale but rather said he would email me an appraisal. Wife wants me to return it. My inclination is to return the watch today , thoughts? Do you think I should just keep the watch or return it ?

[Verdi]

On the long run....the watch is gonna hold the value.

However, I hear you about the price you paid.
You are thinking the dealer got an extra 6k on this deal and you probably miss your GMT.
I personally would not have done it as I choose not to take part in paying premium for hot models game!

[ed555009]

BTW, 10K for 116713 is a bit too low I think.


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[AJMarcus]

Originally Posted by ed555009

BTW, 10K for 116713 is a bit too low I think.


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It’s low for a private sale but not if sold to a dealer

[peterpl]

This is the risk of buying premium.

Paying an extra $6.8k is going to take away the enjoyment because you know you overpaid. Thats almost a DJ41 or a 5 digit sub you could have added to your collection instead of giving it away to the gray dealers.

This is why I never ever pay over retail for any watch. Because I know it will just bug me every time knowing I paid more than I should have. Thats why I've been holding off buying a precious metal SkyD with Rhodium dial. I cant fathom paying more than $40k for that watch.

I dont see you enjoying the watch + your wife is gonna bust your balls alot so if the gray dealer will take it back without you losing more money then just do it and take it as a lesson learnt.

[rolexkidd]

I am guessing I just got lucky on my fully linked RG SD w Rhodium dial. I paid 36K for a new unitled warranty card at a retail brick and mortar Grey. I went into the shop just to look and when he said 36K, I didnt think twice. Box'er up pal.

QUOTE=peterpl;9877591]This is the risk of buying premium.

Paying an extra $6.8k is going to take away the enjoyment because you know you overpaid. Thats almost a DJ41 or a 5 digit sub you could have added to your collection instead of giving it away to the gray dealers.

This is why I never ever pay over retail for any watch. Because I know it will just bug me every time knowing I paid more than I should have. Thats why I've been holding off buying a precious metal SkyD with Rhodium dial. I cant fathom paying more than $40k for that watch.

I dont see you enjoying the watch + your wife is gonna bust your balls alot so if the gray dealer will take it back without you losing more money then just do it and take it as a lesson learnt.[/QUOTE]

[abozz]

I think buyer remorse is not a motive to return the watch, we are adults, if the watch have an issue ok, is not as described ok, but not buyer remorse, but that is me.

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[matt009au]

Originally Posted by abozz

I think buyer remorse is not a motive to return the watch, we are adults, if the watch have an issue ok, is not as described ok, but not buyer remorse, but that is me.

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I agree with abozz. You knew the deal going in... just suck it up and live with your decision.

[nighthawk77]

Personally I wouldn't have done that, but you have a fantastic watch now in your collection which you shouldn't lose out on. Can you take it back so easy once your name is already on the warranty card without losing out?

[The Libertine]

Hindsight is 20/20, but what motivated you to makes such a trade in the first place? The dealer made out like a thief in the night.

[1kw]

Originally Posted by The Libertine

Hindsight is 20/20, but what motivated you to makes such a trade in the first place? The dealer made out like a thief in the night.

I know right, I wanted this watch since it was announced and got caught up in the enthusiasm of the moment. Are authorized dealers allowed to charge so much above retail ?

[The Libertine]

Originally Posted by 1kw

I know right, I wanted this watch since it was announced and got caught up in the enthusiasm of the moment. Seems like the consensus is to take it back.

Very easy to get caught up in the hype - dealers know this, and exploit to their advantage. I would try to return the watch, but with your name on the card, and if stickers removed and watch sized would not be surprised if met with resistance. Good luck.

[1kw]

This was not a grey dealer but a authorized Rolex dealer which is one of the things that bothers me. That and the fact he didn’t give me a receipt. Just a filled out warranty card and a pending appraisal.

[The Libertine]

Originally Posted by 1kw

This was not a grey dealer but a authorized Rolex dealer which is one of the things that bothers me. That and the fact he didn’t give me a receipt. Just a filled out warranty card and a pending appraisal.

I did not think ADs could sell a new watch above retail? Definitely does not seem right, which is why there is no actual receipt.

[Maiden]

Originally Posted by The Libertine

I did not think ADs could sell a new watch above retail? Definitely does not seem right, which is why there is no actual receipt.

The “S” in MSRP is for “suggested”. While selling over retail may violate the terms of the AD’s contract with Rolex, it most likely is not illegal.

[schoolboy]

Originally Posted by 1kw

This was not a grey dealer but a authorized Rolex dealer which is one of the things that bothers me. That and the fact he didn’t give me a receipt. Just a filled out warranty card and a pending appraisal.

What?

I thought it was gray. I don’t think THAT is legal.

[1st amg]

Originally Posted by 1kw

This was not a grey dealer but a authorized Rolex dealer which is one of the things that bothers me. That and the fact he didn’t give me a receipt. Just a filled out warranty card and a pending appraisal.

Don't you think you should have realized what the details of your purchase and ownership of the watch should have been hashed out before you walked out? No wonder your wife is breaking them. I think you were happy to have it on your wrist and walk out of the dealer and only when you arrived home your other half snapped you may have realized you are not content about the terms. Just convince the wife I say. Just tell her this watch appreciates every day and you can flip it for more in a year.

[GreatScott]

Flip it to a grey and get your money back, then go but something else at retail.

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[GJ-PGMTII]

Hopefully they’ll take it back.

Or you can always says, maybe I’ll take this matter up with a Rolex this AD has treated me”

FWIW - Not having a recipe is crazy.


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[1kw]

Dealer took the stickers off the watch in the store before I left and he had a machine which printed my name on the warranty card so now it would technically be considered a used watch . Any suggestions of how to return this ?

[Duende01]

Originally Posted by 1kw

Dealer took the stickers off the watch in the store before I left and he had a machine which printed my name on the warranty card so now it would technically be considered a used watch . Any suggestions of how to return this ?

Don’t know about your particular state laws but some states allow for a grace period (normally 3-5 days) in which you can return merchandise to a vendor. Personally, I would never have considered that deal. Let’s say that the appraisal sheet they give you appraises the watch at near retail? Not only have you lost a couple thousand on the transaction but also your two-tone GMT.

[Watcheroo]

Keep the wife happy. A watch isn't worth it.

Also, selling the watch at a premium, no one is "getting" the dealer to sell you the watch.

[Rocket_Man]

If this really was an AD they violated the terms of their agreement with Rolex by selling the watch so far above MSRP. It is not against the law, but against Rolex policy in the US. I think that is why he did not give you a receipt. Giving you an 'appraisal' instead of a receipt is something that jewelry stores do when they just sold you some over priced diamond jewelry. 'Guaranteed to appraise above the sales price.' Of course since they did the appraisal and it is not worth the paper it is written on. Something is fishy about this AD.

I personally can't imagine dropping $16K on something and not get a receipt. Especially on the watch you traded in. This way he did not have to state in writing the value he put on your trade. His little 'scam' is that the BLRO is selling in the secondary market at that price. say $16.8K. Your GMT is also selling around $10K. So he thinks you should add $6.8K to the deal. But in fact he was supposed to sell the BLRO to you at MSRP and in this case the deal was almost a wash without the extra $6.8K.

If you were buying from a private owner that might have been an okay deal, but you were buying from an AD and that is not how ADs are supposed to work. If Rolex knew about this I suspect they would not be happy.

[jaySL350]

Originally Posted by Watcheroo

Keep the wife happy. A watch isn't worth it.

Also, selling the watch at a premium, no one is "getting" the dealer to sell you the watch.

+1,,
Happy wife = Happy life,,

[toomuchtalk]

Originally Posted by Watcheroo

Keep the wife happy. A watch isn't worth it.

Also, selling the watch at a premium, no one is "getting" the dealer to sell you the watch.

[1kw]

I’m not looking to get the dealer in trouble with Rolex since I went into the deal eyes wide open and nobody forced me to buy the watch. I just feel bad about the purchase because I never paid over retail for a watch before. On one hand I know it’s a real Rolex GMT and paid the fair market value at this time ie same price grey dealers are selling it for , maybe slightly less. On the other hand I never heard of a authorized dealer selling above retail and not giving the customer a receipt.

[Importer_Exporter]

Originally Posted by 1kw

I’m not looking to get the dealer in trouble with Rolex since I went into the deal eyes wide open and nobody forced me to buy the watch. I just feel bad about the purchase because I never paid over retail for a watch before. On one hand I know it’s a real Rolex GMT and paid the fair market value at this time ie same price grey dealers are selling it for , maybe slightly less. On the other hand I never heard of a authorized dealer selling above retail and not giving the customer a receipt.

I would get the receipt. They don’t want a paper trail because they know it’s shady. Tell them if you can’t get a receipt for the amount you paid, the watch gets returned or you stop the check.

[Rrpdc]

Originally Posted by Importer_Exporter

I would get the receipt. They don’t want a paper trail because they know it’s shady. Tell them if you can’t get a receipt for the amount you paid, the watch gets returned or you stop the check.

Definitely shady If a real AD.

[Roli4life]

Originally Posted by 1kw

I’m not looking to get the dealer in trouble with Rolex since I went into the deal eyes wide open and nobody forced me to buy the watch. I just feel bad about the purchase because I never paid over retail for a watch before. On one hand I know it’s a real Rolex GMT and paid the fair market value at this time ie same price grey dealers are selling it for , maybe slightly less. On the other hand I never heard of a authorized dealer selling above retail and not giving the customer a receipt.

The shady receipt treatment was definitely a red flag.
Whether you went in with your eyes wide open or not, the A.D. took advantage of the situation. I would bet he does not do this to every customer, and for that I would be filing a complaint with Rolex.
That is unless he would just let me keep the watch at retail, and give me my 6K back. Which would be the right thing to do.

[Aztro]

It’s not illegal, but not allowed from Rolex’s PoV. Hence the dodgy receipt situation, which actually is illegal in many places (I’d work that angle in returning it- Lord knows how it was entered on the till). Whole thing would leave a bad taste for me, and sounds like you’ve taken it from both sides with the trade in price. Not cool!